Vangold Provides Update From Coppermoly

January 11, 2012 -- Vancouver, BC - Vangold Resources Ltd. ("Vangold" or the "Company") is pleased to report that Coppermoly Limited. ("Coppermoly"), an Australian Securities Exchange (ASX) listed company, of which Vangold holds 13,959,366 shares released the following announcement on January 9, 2012.

Barrick has notified Coppermoly that they have met the $20 million expenditure commitment under the farm-in agreement on Coppermoly's tenements on New Britain Island (Simuku, Nakru and Talelumas). A joint venture for the exploration and evaluation and, if warranted, the development of the tenements will now be formed. Coppermoly will retain a 28% interest in all tenements and its cash contribution towards completion of a feasibility study will be delayed until after the commencement of production and will be repaid from Coppermoly's share of any future production revenue.

The joint venture will provide significant upside to Coppermoly shareholders through the retention of a substantial interest in these advanced projects which are all within a four hour drive by 4WD vehicle from existing infrastructure, including a deep water port at the provincial capital of Kimbe.

At the Simuku project, a total of 10,248 metres has been drilled in 37 diamond holes. It is host to an Inferred Resource of 200 million tonnes grading 0.47% copper equivalent. Assay results from the last hole drilled to 900m depth are pending.

At the Nakru project, copper, gold and zinc mineralisation has been intersected in three prospects with a total of 31 diamond drillholes for 7,253 metres.

The Nakru-1 copper-gold system is the most advanced prospect within the Nakru tenement with 27 diamond drillholes completed for 5,928.4 metres. One diamond drillhole through the centre of a geophysical chargeability anomaly intersected 213.75 metres grading 0.92% copper and 0.33 g/t gold from 74.45 metres depth. Within the bounds of existing drilling, Nakru-1 has an Exploration Target of 50 to 60 Mt grading 0.7 to 0.9% copper. Further drilling of geophysical and geochemical targets will determine additional tonnage potential.

In addition to the exploration being undertaken by Barrick, Coppermoly expects to be able to undertake its own exploration on the new areas that we currently have under application on New Britain Island, as they become granted.

Media enquiries:

PETER SWIRIDIUK MANAGING DIRECTOR PHONE: [phone] ext. 3201

or

MAURICE GANNON DIRECTOR OF OPERATIONS & COMPANY SECRETARY PHONE: [phone] EXT 3204

About Vangold Resources Ltd.

In Papua New Guinea, Vangold has three advanced gold properties, the Mt. Penck, Fergusson and Allemata properties. The properties are located along the "Pacific Rim of Fire", the active circum-Pacific volcanic belt that is host to large copper-gold porphyry systems (Grasberg, Ok Tedi, Panguna and Frieda River) and to a number of world class epithermal gold deposits, including the multi-million ounce deposits at Barrick's Porgera and Newcrest Mining's Lihir gold mines.

Headquartered in Vancouver, Canada, Vangold holds a diversified portfolio of mineral projects in North America, Papua New Guinea and Uganda, as well as oil and gas concessions in Armenia. In addition, Vangold holds a significant stake in Coppermoly Limited, an Australian Listed security (ASX: COY). Vangold's shares are listed on the Toronto Venture Stock Exchange under the symbol VAN and on the Frankfurt Stock Exchange under the symbol VAQ.

To find out more about Vangold please visit our website at or contact Dal Brynelsen at 604-684-1974 or by email [e-mail].

On Behalf of the Board of
VANGOLD RESOURCES LTD.

"Dal Brynelsen"
Dal Brynelsen, President and CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information
Statements containing forward-looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company.

Forward-looking statements and information are based on assumptions that financing and personnel will be available when required and on reasonable terms, and all necessary regulatory approvals and shareholder approval will be obtained, none of which are assured and are subject to a number of other risks and uncertainties.

There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.